Billionaire investor and cryptocurrency advocate Mark Cuban recently discussed the potential impact of Gary Gensler’s actions as head of the United States Securities and Exchange Commission (SEC) on President Joe Biden’s re-election campaign.
Speaking at Coinbase’s State of Crypto Summit, Cuban expressed concern that Gensler could “literally cost Joe Biden the election,” according to Fox Business reporter Eleanor Terrett.
Cuban has previously suggested that Gensler and the SEC could jeopardize Biden’s chances of securing a second term. He has been vocal about the need for regulatory clarity.
In May, as reported by Cointelegraph, Cuban called for the U.S. Commodity Futures Trading Commission (CFTC) to assume cryptocurrency regulation responsibilities.
At that time, Cuban emphasized that crypto voters “will be heard this election,” referring to the 2024 U.S. presidential election.
He warned, “If Joe Biden loses, there is a good chance you will be able to thank Gary Gensler and the New York SEC.”
Biden has reportedly started discussions with cryptocurrency industry insiders about potentially accepting crypto donations for his campaign.
READ MORE: Pyth Pull Oracle Launches on Solana
However, this move might come too late for the president, as his tenure has largely been marked by a negative stance toward the industry.
It remains unclear how Biden plans to address cryptocurrency issues during the rest of the campaign. The topic may emerge during the upcoming presidential debates.
On the other hand, former U.S. President Donald Trump’s stance on cryptocurrency starkly contrasts with Biden’s. Trump has recently shown strong support for the technology.
According to a recent Cointelegraph report, Trump has vowed to “end Joe Biden’s war on crypto” and to “ensure that the future of crypto and the future of Bitcoin will be made in America.”
Trump has previously posted on his Truth Social media network, pledging to protect the cryptocurrency industry from government interference.
He criticized Biden, stating, “Crooked Joe Biden, on the other hand, the worst president in the history of our country, wants it to die a slow and painful death.”
To submit a crypto press release (PR), send an email to sales@cryptointelligence.co.uk.
